The long-term rental market in Limassol remains strong, despite much poorer numbers in other areas of Cyprus, such as Larnaca and Paphos. Limassol still has a healthy influx of expats, British and other nationalities, either renting in a trial before buying the base or relocating families from some of the Arab states where they are working, but they have found that the rental costs are up to 4 times higher than long-term rentals in Limassol, Cyprus.
Most have families, so 3-bedroom villas or townhouses, ideally with pools, are popular in this sector, and a key factor is the easy transfer to private schools in Limassol, so anywhere along from the road or outlying towns such as Souni, Kolossi, Erimi and Pygos and La parakleisia is popular. The typical rent for a modern furnished property with a swimming pool is on the order of € 1,400 per month with maintenance included.
Limassol’s tourist strip is popular with foreign workers, particularly in the hospitality and entertainment industry, who want easy access to work and nightlife, where they also blend in with the posh ensemble looking for luxury beachfront apartments. . Prices for a simple duplex or 1-bedroom apartment in Limassol are usually € 400 per month, a furnished 2-bedroom apartment between € 700 and € 800 and a stylish and elegant 2-bedroom apartment on the beach (Limassol Seafront) can cost from € 1,600 onwards.
The domestic market is also optimistic as Limassol has been less dependent on tourism within its economy with downtown areas such as Mesa Gitonia, Polemedia and Agios Athanasios popular requests. 3-bedroom family apartments start at € 700 and villas and houses without a pool, a less important requirement for Cypriots, are around € 1,000-1,200 per month. Long term rental properties in Limassol can be furnished or sometimes unfurnished where normally around € 100 per month for an unfurnished apartment and € 150-200 for a villa can be deducted as a rough guide.
With generally low house prices and strong demand from the long-term rental market in Limassol, there is evidence of many purchases to allow investors to return to the Limassol market to pick up bargains and the potential to achieve a reasonable return on their investment through long-term rentals. in Limassol.
